> For the complete documentation index, see [llms.txt](https://docs.valueqube.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.valueqube.io/lite-paper/zh/qasset-certificate.md).

# 4. qAsset 认购证明

qAsset Certificate 是 ValueQube 的核心账户原语。它的目标，是让每一种可投资敞口都能被用户、钱包、产品、协议和 AI Agent 读取。

一张 qAsset 应该记录：

| 字段                         | 含义                     |
| -------------------------- | ---------------------- |
| Underlying Exposure        | 对应资产、策略或组合             |
| Subscription Record        | 认购金额、认购时间、确认批次         |
| Unit Record                | 用户确认获得的 qAsset 单位或份额记录 |
| Reference Value            | 账户参考价或估值基础             |
| Risk Label                 | 久期、波动、信用、流动性、合规或策略风险   |
| Fee and Distribution State | 费用扣减、收益确认、可领取或复投状态     |
| Redemption Window          | 赎回窗口、队列、确认和结算规则        |
| Authorization Boundary     | 哪些动作可由 AI 准备，哪些必须由用户确认 |

示例可以包括 qSTRC、qT30Y、qNVDA、qETF54、qQuant 和 qUSD 状态。这些示例用于说明不同敞口如何被记录，不意味着所有产品拥有相同风险、估值或赎回路径。

qAsset 不是稳定币，不是普通 wrapped asset，也不承诺账户参考价值只会上升。它是一层让账户状态变得可读的凭证。

#### qAsset 如何随时间变化

qAsset 不应该是静态的。它从一张确认后的账户凭证开始，随后随着市场、策略、费用、分配和用户动作事件不断积累状态。成熟的 qAsset 记录，应该允许用户或 AI Agent 复原账户故事：初始进入、确认批次、当前参考价、事件历史、可领取状态和退出选项。

因此，账户对象至少应该支持四种读取方式：

| 读取方式          | 回答的问题               |
| ------------- | ------------------- |
| Position View | 我当前持有什么？            |
| Value View    | 参考价值如何计算或来自哪里？      |
| Event View    | 自确认以来发生了什么变化？       |
| Action View   | 什么可以准备、领取、复投、赎回或签名？ |

这就是 ValueQube 从凭证开始，而不是从交易 ticker 开始的原因。ticker 适合表达市场，certificate 才能承载账户真实。


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